TIL Desk/Business/New Delhi/ Finance Minister Nirmala Sitharaman on Tuesday asked the industry to shun hesitation and invest to pull the economy out of the stress while making it clear that government spending will never be enough so the industry has to chip in too.
“I don”t think in today”s condition it can be just government spending which can pull economy towards growth and we want the industry to stop hesitating… I strongly believe industry today will have to come out of hesitation which you have..,” she said at the post Budget meeting with CII.
Sitharaman said that the biggest priority of the government was to keep the macroeconomic stability unchanged, adding that it was clear that they couldn”t play around or violate the FRBM Act, so they utilised escape clause as given in the Act.
The FM said she expected industry to be the engine to pull the economy forward and do its own bit “I had several interactions with industry leaders before the budget presentations and will be spending time focusing on the implementation of the budget. The government has done its bit on simplifying & cutting corporate tax rates and now expects the industry to be the engine to pull the economy forward as the government spends is not sufficient,” she added.
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